58,305 Shares of Synchrony Financial $SYF Bought by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP purchased a new position in shares of Synchrony Financial (NYSE:SYF) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 58,305 shares of the financial services provider’s stock, valued at approximately $4,182,000.

A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. bought a new stake in Synchrony Financial during the 2nd quarter valued at $2,349,452,000. Bank of America Corp DE purchased a new stake in Synchrony Financial during the 2nd quarter valued at $1,122,961,000. Dimensional Fund Advisors LP grew its holdings in Synchrony Financial by 6.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,039,753 shares of the financial services provider’s stock worth $410,760,000 after acquiring an additional 365,353 shares during the last quarter. First Trust Advisors LP grew its holdings in Synchrony Financial by 5.6% in the 1st quarter. First Trust Advisors LP now owns 5,338,110 shares of the financial services provider’s stock worth $363,098,000 after acquiring an additional 281,451 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in Synchrony Financial by 0.9% in the 1st quarter. Assetmark Inc. now owns 4,338,604 shares of the financial services provider’s stock worth $295,112,000 after acquiring an additional 37,114 shares during the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SYF has been the topic of a number of analyst reports. BMO Capital Markets initiated coverage on shares of Synchrony Financial in a research report on Friday, October 9th. They issued a “market perform” rating and a $81.00 price objective on the stock. TD Cowen dropped their target price on shares of Synchrony Financial from $90.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, October 6th. Barclays raised their target price on Synchrony Financial from $93.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. HSBC boosted their price target on Synchrony Financial from $93.00 to $97.00 and gave the company a “buy” rating in a report on Monday, July 13th. Finally, Weiss Ratings raised Synchrony Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.78.

Synchrony Financial Stock Down 0.7%

SYF stock opened at $73.21 on Tuesday. The business has a 50 day moving average of $74.42 and a 200 day moving average of $73.54. The firm has a market cap of $22.80 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 0.93 and a beta of 1.40. Synchrony Financial has a twelve month low of $63.08 and a twelve month high of $88.77. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.15.

Synchrony Financial (NYSE:SYF) last released its earnings results on Tuesday, October 20th. The financial services provider reported $2.68 EPS for the quarter, topping the consensus estimate of $2.42 by $0.26. Synchrony Financial had a return on equity of 22.26% and a net margin of 14.59%. The business had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the previous year, the company posted $2.86 earnings per share. On average, research analysts forecast that Synchrony Financial will post 9.59 EPS for the current fiscal year.

Synchrony Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 16th. Stockholders of record on Thursday, November 5th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, November 5th. This represents a $1.36 annualized dividend and a dividend yield of 1.9%. Synchrony Financial’s dividend payout ratio (DPR) is presently 14.20%.

About Synchrony Financial

Synchrony Financial is a consumer financial services company that provides credit products and related services through partnerships with retailers, healthcare providers and other businesses. Its offerings include private-label and co-branded credit cards, installment loans and promotional financing options.

The company also provides consumer banking products, including savings accounts and certificates of deposit. Its financing solutions serve customers in areas such as retail, home improvement, automotive, health and wellness, and digital commerce, primarily in the United States.

Synchrony was formerly part of General Electric’s financial services business and became an independent, publicly traded company in 2014.